Economy & Government
GM to extend holiday shutdown, will cut production (AP)
General Motors Corp. will extend its holiday shutdown or make other production cuts at five factories at as it deals with a continued U.S. auto sales slump and fights to stay solvent. Read
Ask AP: Importance of housing starts, honeybees (AP)
American farmers have long worried about the declining population of honeybees, a key crop pollinator. But honeybees originally came from Europe, so can't U.S. farms get by without them -- with a little help from good old American bugs whose ancestors were here before Columbus? Read
Citi extends plunge as world economy deteriorates (Reuters)
Amid growing concern that a power vacuum in Washington was contributing to the global financial crisis, shares of U.S. banking giant Citigroup skidded on Friday while legislators and corporate chieftains weighed the fate of the U.S. auto industry. Read
Trustmark Corporation Completes Sale of $215 Million in Senior Preferred Shares to the U.S. Treasury (Business Wire)
JACKSON, Miss.----Trustmark Corporation today completed the issuance and sale of $215 million of Fixed Rate Cumulative Perpetual Preferred Stock, Series A, to the U.S. Treasury as part of the governmentâs Capital Purchase Program, a voluntary initiative for U.S. financial institutions designed to support the economy by increasing financing to businesses and consumers. Read
Bargain hunters lift stocks, but Citi sinks (Reuters)
Stocks rose in choppy trade on Friday as investors snapped up cut-price shares in beaten down sectors, including commodities and energy, a day after Wall Street slid to 11-year lows. Read
Canadian car dealers plead for government (AP)
Canada's 3,500 car dealers are asking the federal government to take aggressive measures to help the country's ailing automobile industry. Read
Bankers survey: Little confidence in rural economy (AP)
A survey of bankers suggests the rural economy is still faltering and that there is little confidence things will look much brighter in six months. Read
Argon STs Victor Sellier Sets Retirement Date (Business Wire)
FAIRFAX, Va.----Argon ST, Inc. , a leading developer of command, control, communications, computers, combat systems, intelligence, surveillance, and reconnaissance systems, today announced that Victor Sellier, Executive Vice President and one of the companyâs co-founders, has set a retirement date of January 11, 2009. Read
Famous NYC food critic loses job in sour economy (AP)
One of New York City's most famous food critics is out of a job. New York magazine confirmed Thursday that Gael Greene -- known for her flamboyant hats and influential opinions -- is no longer working for the publication. Read
Colo.'s jobless rate jumps to 5.7 percent in Oct. (AP)
Colorado's unemployment rate jumped 0.5 percent to 5.7 percent in October, the highest in more than 4 1/2 years. The state Department of Labor and Employment said Friday the state lost 10,000 jobs in October, with the biggest drops coming in the leisure and hospitality sector, followed by professional and business services and construction. Read
NeighborWorks America Honors HUDs Assistant Secretary for Housing/FHA Commissioner Brian D. Montgomery with the 2008 Government Service Award for Meritorious Service (Business Wire)
WASHINGTON----Today NeighborWorks® America announced that Brian D. Montgomery, Assistant Secretary for Housing and Federal Housing Commissioner of the U.S. Department of Housing and Urban Development , is the recipient of the 2008 NeighborWorks® Government Service Award for Meritorious Service. Read
Associated Banc-Corp Sells $525 Million of Senior Preferred Shares under the Treasurys Capital Purchase Program (Business Wire)
GREEN BAY, Wis.----Associated Banc-Corp announced today that it has sold $525 million of senior preferred shares and related common stock warrants to the U.S. Department of the Treasury under the federal governmentâs voluntary Capital Purchase Program. Read
New Hampshire cutting budget by nearly $60 million (AP)
New Hampshire is cutting its budget by nearly another $60 million, reducing spending on everything from school aid construction to overtime. Read
BBC governors back response to obscene broadcast (AP)
The BBC's governing body ruled Friday that the broadcaster acted appropriately when it suspended its star disc jockey and accepted the resignation of a fellow performer for leaving lewd messages on an actor's phone about his granddaughter. Read
Why cheap gas can't save the economy (CNNMoney.com)
The stock market stinks like a moldy piece of Limburger cheese. Unemployment is on the rise. Home prices continue to fall. There are fears that one or more of Detroit's Big Three could go bankrupt. Read
EU calls for boost in public spending, tax breaks (AP)
The European Commission urged the 27 EU governments Friday to boost public spending and provide tax breaks to help industry overcome the accelerating economic slowdown that has already pushed several countries into a recession. Read
Canada's inflation rate drops almost a full point (AP)
Consumer prices in Canada tumbled last month in their steepest one-month drop since 1959, as falling energy prices cut the annual inflation rate by almost a full point in September. Read
NC jobless rate rises to 7 percent in October (AP)
The wave of layoffs at North Carolina companies led to a statewide unemployment rate of 7 percent in October, the highest in almost six years. Read
UK home reposessions rise 12 percent in 3Q (AP)
Home repossessions in Britain jumped 12 percent to 11,300 in the third quarter from the previous quarter, the Council of Mortgage Lenders said Friday, more evidence that the financial crisis is taking its toll on households and the ailing housing market. Read
ECB rate setters point to another rate cut in Dec. (AP)
The chances of another interest rate cut by the European Central Bank increased Friday after some of the bank's governors said borrowing costs may have to fall further to offset a worsening economic outlook and dropping inflation. Read
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